Since the minting of new coins is on a fixed schedule, would it make sense to count them all when doing a total valuation?
In a similar way to how if you were estimating the value of all the oil in the world, you would include proven reserves (ie reserves that are reasonably certain of being recoverable under current economic and political conditions)?
Or if only 50% of a company's shares are outstanding (the other 50% being treasury shares, ie owned by the company), the valuation of the company would be share price * total number of shares, not share price * number of outstanding shares?
If this approach is used, bitcoin's total value has exceeded the half billion USD point.
Depends what you are using the numbers for. Just as in the oil example, there is a difference between what is available now and what will be available in the future after much time and capital is expended to bring the additional supply to market. |
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I am actually somewhat intrigued to build a bot of my own, but I have to admit my programming knowledge is extremely limited (I have dabbled a bit with java and C++, but I never really got much further than the "hello world" examples because I didn't realy have a project or a use for it).
Does anybody here have any experience in making a bot? Is it very complicated to create one, or are there "templates" or examples to start from? A nudge in the right direction would be appreciated (or a warning if it is very foolish to engage in this for an inexperienced user).
https://github.com/chrisacheson/liquidbot |
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Sure, but in a week everything below twenty will likely be knocked off the bottom.
That's pretty bullish of you. I know the price is pretty high at the moment, but displacing 8 record prices in the next 7 days is a tall order! It's pretty bullish to claim that we won't fall more than $4 in the next week? |
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What "false and misleading positive statements" can you point to? If you can't point to some, it doesn't fit the basic definition.
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23.60 USD Bid for 214 BTC on BitFloor.com
23.70 USD Bid for 8.45 BTC on BitFloor.com  |
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I'm looking for something like this:
Cash Gold Bitcoins
Instantly transportable worldwide YES NO YES
Giant online transactions possible NO NO YES
Small online transactions possible NO NO YES
Impossible to inflate NO YES YES
Fast transactions across borders NO NO YES
Unfreezable account NO N/A YES
Private online transactions possible NO NO YES
Not confiscate-able NO NO YES
Etc...
Bitcoin has such an overwhelming host of benefits that it's easy for people to be incredulous or forget about them in the confusion they encounter when evaluating the concept. It may help adoption to have a handy table like this so people can see all the heavy-hitting points in one place.
Please tell me how I can instantly transport cash worldwide. |
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are you asking for real answers here? the answer is always going to be biased depending on the person so i dont get what people try to get from threads like this.
Ill always say buy bitcoins because I have bitcoins and want the price to rise, people who want the latter are going to say sell,
if your asking for trading advice id say that its best to go with your gut and not let someone else do your trading for you, at least if your wrong you blame yourself and can try to get better / learn from mistakes where as if you trade on someone elses advice your just blaming someone else and will also be blaming yourself for listening to someone else with your own money, catch 22 is appropriate here right?
Markets are about group psychology. Threads like this are an attempt to judge the sentiment distribution. |
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This is just being a nit. Its relative to how much money you have, and your life situation. If you have 10k to your name and you are 20 years old, putting all your money into bitcoin is not some wreckless idea, it's taking a shot at retiring before 40 (like a pirate) or losing 10k and spending a few years working to recover it. Actually it is a reckless idea. Here is a scenario: a) Loses a job. b) An exchange like mtgox freezes his account. Pick any reason here, I have seen a lot happening in a bitcoin world. c) He's screwed short term, because he has ZERO savings. If he does a small amount of research and has half a brain he will know what he is doing and can easily secure his wealth without relying on a third party like MtGox. |
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I'm pretty sure he wan't to use the vulnerable version of Qt on that list . |
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http://shtylman.com/Owns bitfloor. Legit enough not to shut down his site permanently after BTC were stolen from it, and promised to return stolen coins over time (a small percentage has been returned so far). Yep. This is the first issue I've had with bitfloor that wasn't addressed immediately. He did finally get his shit together and get me access to my account today, but I suspect he is more busy than usual lately. Anyway, we were at $20 when my deposit cleared, so now I have to decide if I want to jump in at 23.5 or wait and hope we chill out a bit before we continue the climb. |
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its going to take a little longer to beat that #3 spot
Sure, but in a week everything below twenty will likely be knocked off the bottom. |
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How do you guys not see the history and the cycle? It happens every single effing month. The price crashes by ~20 to 50%, people panic and say Btcoin is dead, It stays down for about a week then the price rises, and people all say that this is the turning point. Eventually the price falls in line with the same straight (log) line of slow decline that it has been on since the middle of the summer and everyone declares that Bitcoin has stabilized. Then it happens again. It happened first in June, it happened in July, it happened in August, it happened in September, it happened in October, and now it's happening in November yet everyone is surprised every month.
Right.  BTC/USD, last 5 months, with 30 day trailing moving average.I've been saying "long, slow slide" for months. It's still not clear what the endgame is. It hardly matters at this point, though. As I point out occasionally, if one business the size of a typical single supermarket used Bitcoins, liquidating their daily receipts would crash the market. Bitcoin is now too dinky to be used as a currency. I prefer this, this is what has been decisively proven wrong, we have businesses larger than a single supermarket using Bitcoins, their daily liquidations did not crash the market. Right, it only took a day to recover from the recent 50 BTC dump. |
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I wish I could jump in front of you again, but Roman sucks at customer service. I lost my phone and 6 days after notifying him I still can't access my account  . I answered is questions and he said he lifted the 2-factor auth for my account, but it still doesn't work. He hasn't responded in almost 24 hours. Sorry for the threadjacking, just needed to vent. Plus, when I do get my account back I will be jumping in front of you . |
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Not a single reference to Bitcoin in this article...though it seems somebody is promoting awareness of Amazon virtual currency. Why should we care? This is not even a cryptocurrency and it has central control just like Linden Labs has over the Linden Dollar so in practical terms Amazon = Linden Labs. Both centralised powers, and we know how it goes for currency systems with central powers. We on the other hand use an open and free protocol. We have the decentralised potential that the internet itself has. They no threat, lol haha  You are right they are no threat. But if they are transferable and transactions are harder to reverse than other transfer methods than they may help interface with more traditional financial systems. |
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Based on your market predictions, would you be willing to pay $20 today for 21 weekly payments of 0.05BTC?
If the counterparty was someone I trusted, yes. |
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So how come you can't bundle dependencies in linux like that?
You can. http://statifier.sourceforge.net/For all the libraries it would take, it would make a huge binary for Bitcoin. I got that openSUSE distro, and bitcoin d runs just fine. The problem is the platform's old QT 4.5.3 even after full updates. Qt is forward-compatible, meaning applications will generally continue working on new platforms, but new apps might not work on old libraries or compile in old Qt. If you absolutely must have bitcoin-qt running, I would suggest getting and compiling qt 4.8.4, and setting the path to the new built libraries. It would be less work than attempting to build Bitcoin. http://qt-project.org/doc/qt-4.8/install-x11.htmlEven less work is to get virtualbox and put a new distro on it. If you haven't linked up the Evergreen extended maintenance repository, your 11.2 SUSE is full of security holes big enough to drive a malware truck through. http://en.opensuse.org/openSUSE:Evergreen_11.2#List_of_updates_for_11.2_from_Evergreenedit-FIX: I built and installed qt-4.8.4 on openSUSE 11.2. Then in a terminal console: export QTDIR="/usr/local/Trolltech/Qt-4.8.4/"
export PATH="${QTDIR}/bin:${PATH}"
export LD_LIBRARY_PATH="${QTDIR}/lib"
export CMAKE_PREFIX_PATH="${QTDIR}"
export PKG_CONFIG_PATH="${QTDIR}/lib/pkgconfig"
./bitcoin-qtBitcoin now launches just fine. Bitcoin "Help"->"About Qt" = "This program uses Qt version 4.8.4." My point exactly, although I guess I can agree with giving him the tools he's asking for even if it's bad for him. I lean libertarian. |
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That strategy of saving for things in related products makes a lot of sense. Too bad you're just trading paper that has a nonzero chance of being unwound in a nasty fashion.
Hey, that's markets. It's not like the Bitcoin I keep on Mt. Gox to trade with is any safer.  Fair enough. I don't keep any funds on an exchange longer than I need to, but I don't daytrade anymore. |
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Hi, not paying any attention to bitcoins lately, I know realize how its marketprice has risen since november or mid january. Trying to understand this I looked at this graph: http://www.bitcoinx.com/charts1/depth_mtgox.pngand I find myself with two questions: Do I interpret correctly that the red chart reflects the amount of BTCs people ask for / would like to buy? If that is so, why does BTC price rice with declining demand? Or am I indeed confusing ask and bid sum here? Why do the graphs seem to have a synchronized or even an axially symmetric signal/part to their trends? Thank you Luigi Red is asks... in other words, what people with bitcoins are asking in exchange for them. So you have that backwards. In addition, there are many more exchanges and much volume never touches an exchange, so you can't use that graph to determine supply and demand for bitcoin. |
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.... when the BTC market scales to this size, the transaction fees of 0.0005 BTC would "suddenly" become a serious expense, so, payouts would be made as rarely as possible, and very likely some banks would print fractional-reserve milli-BTC notes to use as cash based on true bitcoins, and new "lite payment" system would arise
Unless the BTC market scales to this size "suddenly" the transaction fee won't "suddenly" become a serious expense. |
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